|The scope of the work ahead on the McBride Street
waterline issues has required a request from the City's CFO
for amendment to the recently adopted Five Year Financial plan
The City's Finance Office has had to do some additional number crunching in these days following the approval last month of the City's 2022 Budget and Five Year Plan and as a result of some un-anticipated financial surprises, City Council will be provided with an amendment to the Financial plan for their review at the next council Session on June 27th.
The details to the changes required were outlined in an information release from the City this afternoon which notes that work on the McBride Street Water and Sewer lines, along with required repairs to the Airport Ferry Dock on the Digby Island side as to the two elements of note that require extra funds.
The Digby Island dock work to cost $175,000, while the total cost of the McBride Street repairs will come to one millions dollars, making fora total amended change of $1,175,000.
In the update published today, the City notes that the proposed changes will not result in any change to City servicing levels or approved operating budgets, instead drawing funds from reserves and borrowing from MFABC.